MRF Q4 Results: 7.6% drop in net profit

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Synopsis:

MRF, India's premier tyre brand, disclosed FY 2023-24 financials after Board approval on May 3, 2024. MRF Q4 Result show that the standalone net profit dipped by 7.6% to ₹379.6 crore YoY. Revenue surged 8.6% YoY to ₹6,215.05 crore. The dividend includes a proposed ₹194 (1940%) per share and interim dividends totalling ₹200 (2000%) per share for FY24.

DATA Points:

  1. Net profit of ₹379.6 crore; Down by 7.6%
  2. Revenue from operations: ₹6,215.05; Up by 8.6%
  3. Final dividend: ₹194 per share 

ExploreMrf Ltd Share Price

Introduction

MRF, the strongest tyre brand in the country, announced its financial results for the financial year 2023-24, as approved by the Board of Directors in the Board Meeting held on 3 May 2024. MRF Q4 results announced a standalone net profit of ₹379.6 crore for the fourth quarter of FY 2023-24, marking a 7.6% decrease from ₹410.66 crore recorded in the corresponding period of the previous year.

The tyre manufacturer's revenue from operations in Q4 FY2023-24 surged by 8.6% to ₹6,215.05 crore from ₹5,725.39 crore, on a year-on-year (YoY) basis. The revenue was recorded at ₹24,673.68 and ₹22,578.23 on 31 March 2024 and 2023 respectively. 

Additional Read129 Indian Companies to Release Q4 Results 

MRF Dividend

The Board of Directors proposed a final dividend of ₹194 (1940%) per share with a face value of ₹10 each. The company has distributed two interim dividends of ₹3 each per share for the financial year ending March 31, 2024. Consequently, the total dividend for FY24 amounts to ₹200 (or 2000%) of ₹10 each per share.

Additional ReadQuarterly Results

MRF Q4 Results: Major Financial Metrics - (₹ in crores)

Metrics

Q4 FY 24

Q4 FY 23

FY24

FY23

Revenue from Operations 

6,349.36 

5,841.72 

25,169.21 

23,008.50

Total Income

6,443.17

5,911.51

25,486.05

23,261.17

Profit before Exceptional Items and Tax

527.34 

501.23 

2,787.42 

1,069.72

Profit for the period from Continuing Operations

396.11 

340.65 

2,081.23 

768.94

Total Assets 

-

-

26,849.43

24,369.41

Total Liabilities 

-

-

10146.27

9661.59

Conclusion

MRF stands as the foremost tyre brand globally and the most esteemed in India. It remains committed to enhancing employee welfare and prioritising their health, safety, and skill development. As one of the fastest-growing tyre brands, MRF holds a strong position globally. The company also actively engages in corporate social responsibility, executing initiatives in education, healthcare, skill enhancement, and community infrastructure development.

Additional Read: Annual Results

Results for the Fourth Quarter and Full Year Ended March 31, 2024

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What were the financial key highlights of MRF Q4 results?

Answer Field

MRF's Q4 FY23-24 net profit came down to ₹379.6 crore, which is a dip of 7.6% YoY. The company’s revenue surged 8.6% YoY to ₹6,215.05 crore.

Do MRF Q4 results declare a dividend?

Answer Field

The company also proposed a dividend of ₹194 per share (1940%).

No Result Found

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